March 20, 2019
Munich Airport reported a successful 2018 operating year at its annual press
conference in Munich today: The 3.8 percent increase in traffic to a total of 46.3
million passengers flying to and from Munich, and the resulting gains in aviation
and non-aviation revenues had a decisive impact on the increase in Group sales,
which – based on preliminary figures – topped the 1.5 billion euro mark for the
first time. EBITDA also surged to a new all-time high of 535 million euros. The
airport operating company – the FMG Group – closed out the past year with
earnings after taxes (EAT) of 150 million euros. Cash flow from operations
improved by 80 million euros to 465 million euros. With equity of over 2.2 billion
euros, the equity ratio, at 41.3 percent, exceeded 40 percent for the first time.
In the view of Dr. Michael Kerkloh, the President and CEO of Munich Airport,
commercial success is an essential building block for a future-ready and
competitive airport: "By making substantial investments in our infrastructure, we
are ensuring that Munich Airport – despite rising passenger numbers – will be
able to offer the travelers of tomorrow the same impressive service standards
and pleasant airport experience. In that regard, the most important project now
underway is without doubt the extension and modernization of Terminal 1."
Work has begun on the first preparatory measures for this major project at the
heart of Munich Airport. On completion, the planned new pier will be linked to the
existing A and B modules and will extend more than 320 meters into the western
apron. It will have docking space for up to 12 aircraft. The new pier is scheduled to
go into operation in 2023. FMG has budgeted approximately 455 million euros for
this expansion project.
Terminal 1 is not the only construction site at Munich Airport. At present, a total of
14 expansion projects are at various stages of completion on the airport campus.
They range from new parking facilities to the extension of the S-Bahn rail tunnel
for the future rail link to Erding and various road projects. These include the fourlane
expansion of the eastern airport feeder road and the construction of an
additional bridge over Zentralallee to access the future LabCampus innovation
site on the western side of the airport. Discover more about our construction projects.
The biggest factor behind the dynamic traffic trend at Munich Airport in 2018 was
the increase in passenger numbers on international routes. The main growth
driver was the intercontinental segment, which experienced a 7 percent increase,
thanks in large part to Lufthansa's decision to station five Airbus A380 aircraft in
Munich. The world's largest airliner has over 500 seats and carried approximately
900,000 Lufthansa passengers in its first year in operation. Also contributing to
the renewal of the long-haul fleet in Munich was the Airbus A350. By July of this
year, Lufthansa will have 15 of these fuel-saving and extremely quiet widebody
jets stationed in Munich. The strong demand in the intercontinental segment
contributed to yet another increase in the average aircraft load factor at the
Bavarian hub: With an average of 77.5% of all seats filled on arriving and
departing flights, the airport achieved the highest quota in its history.
The robust traffic trend showed no sign of slowing down through the first two-and-a-half months of the current operating year, with the number of take-offs
and landings around 3 percent higher year-on-year, and passenger numbers up
by a very healthy 4 percent.
"Looking ahead, however, we must note that the projected increases in demand at
Munich Airport over the coming decade can be met only with a corresponding
expansion in supply. The moratorium on the construction of the third runway has
capped our growth opportunities for the time being," said FMG CEO Michael
Kerkloh. He added: "Against that backdrop, our main task in the coming years will
be to maintain the range and quality of services at our airport under the
conditions imposed by an increasingly challenging capacity crunch. The key will be
to enhance the hub function and in particular to further reinforce Munich Airport's
role as a gateway to intercontinental travel."
